Notable projects - track record

Sports and sports venues

Complex investment in sports, leisure and real estate group, Nordics

Mishu led the bid to acquire a complex listed leisure, sports and real estate group based by a major institutional investor whose investment thesis included the acquisition of the group, investment of €150 million into the football club and the national stadium to encourage substantial uplift in revenue generation, investment in the commercial space and €200+ million investment into the leisure company to transform it into a European wide leisure group. The acquisition and investment would have transformed all elements of the group.

RCD Espanyol, Spain

Mishu assisted RCD Espanyol, a La Liga football club, in 2017, when the club was struggling with its legacy debt and the impending cash flow issues for which the club sought a financing solution.  Mishu identified five debt lenders who could structure debt with a 10-20 year amortisation period to repay debt with keen pricing and attractive maturities. The debt solutions offered would have allowed the club to continue to develop its business case development and control the cash flow out to service debt whilst remaining competitive to receivables options.

Valencia CF, Spain

Mishu supported a major private equity’s bid to acquire Valencia CF, a major Spanish football club, with the aim of completing the new stadium, Nou Mestalla, investing in the club’s squad and fulfilling the bidder’s investment goal of achieving value generation by improving the club’s financial operations by ensuring the club regularly achieves Champion’s League group stage and beyond, befitting of the club’s status within Europe.

FCG Bordeaux, France

In 2018, Mishu worked closely with the promoter who sought commercial and financing support based on their business case of turning around the club, improve the club’s ability to generate matchday and commercial revenues and push the club to become a top five club in Ligue One. Mishu contributed to commercial due diligence and subsequent capital raise of €90 million and other assistance such as third party credit underwriting, insurance wrap equity investment etc.

Redevelopment of De Kuip for Feyenoord Rotterdam, Netherlands

Mishu supported the financial structuring and capital raise of €210 million of construction and long-term funds with non-recourse principles for redevelopment of De Kuip stadium as part of a consortium led by BAM and made up of organisations including IMG. The financing solution created had an attractive cash flow profile for the club. The project would have provided to the club a modern stadium of 60,000 seats (from the current 50,000 seats).

Other

Brazil World Cup stadium, Brazil - bid to invest in World Cup 2014 venues in Brazil, Maracanã Stadium and Beira Rio Stadium

Brentford FC, United Kingdom - advised the club on their commercial rights as part of their development of a new stadium on a site opposite Kew Bridge

Major Premier League, United Kingdom - two bids to fund privately 50,000 seat stadiums to provide the club a new stadium to ensure better revenue generation

Norwich indoor arena, United Kingdom - two bids, working closely with an well known operator, to develop a new 12,000 capacity indoor arena in Norwich

New racetrack, United Kingdom - raised £300 million of construction and long-term funds from an annuity fund to develop a new motorsport venue designed to host F1 races

Corporate

Large Spanish telecoms merger, Spain

Mishu advised on the raising of €95 million of mezzanine debt after identifying that the client only required a mezzanine facility to bridge between the senior debt they lined up and private equity raised to facilitate a complex merger of three companies within short time frame to create a new major Spanish telecoms operator that could better compete with the incumbent major operators in Spain and become a disruptive force in the Spanish telecoms sector, and transforming from a mobile virtual network operator to an owner of telecoms infrastructure and substantial critical mass.

Spanish healthcare group, Spain

Mishu assisted in €50 million debt raise to facilitate refinance and expansion of regional dental chain seeking to refinance existing debts and expand from 28 clinics to c. 80 clinics. The group sought to concentrate their leadership position in Catalunya. The client also sought to buy out the other shareholders.

Insurance company acquisition, Central and Eastern Europe

Mishu worked in partnership with an insurance expert, who founded one of the region’s largest comparison sites, to bid to acquire an non-life insurance company in the Czech Republic with opportunity to expand by rapid organic growth by better marketing, development of new products and creation of a new life business line with the intention of tripling the gross written premium within a five year period.

Private bank acquisition, Switzerland

Mishu assisted a client in their bid to acquire a €140 million Swiss private bank from a major Spanish bank The client had sought to develop the bank’s wealth management capabilities and improve its investment management capabilities to substantially improve both profitability per unit AUM, quantum of AUM and the breadth of customer base, but specifically targeting the Spanish speaking countries in Europe and Latin America. Mishu had brought to them financial services specific private equity and interest from lenders to leverage the acquisition.

Real estate and complex projects

Athens Alive, Greece

Mishu worked as part of a large consortium and a local partner to plan the redevelopment of the Olympics Park (Summer Olympic Games 2004) in northern Athens to become a honeypot development concentrating on the sports activities by redeveloping the Olympics stadium to become a redeveloped modern national stadium to host the national football team and multiple leading football clubs, a new indoor arena for a major basketball team, redevelop the iconic velodrome, create new sports facilities for elite athletes, redevelop of the plaza into a new park, recommissioning of the fountains, renovation of the art works and development of a new commercial district to provide Athens a major new commercial district to create a new district with €1.5 billion of gross development value.

Super prime developments

In London, United Kingdom, Mishu has worked with a well known London developer to bid to acquire an office building with planning consent to convert into a super prime residential development of 27,300 sq. ft. (2,500 sq. m.) in Knightsbridge which would have benefited from the scheme’s close proximity to Harrods. In the United States, Mishu bid with a consortium to acquire a scheme in Beverly Hills, California to demolish the existing structures and develop into a new luxury multi-family scheme that had aimed to achieved new price points

Portfolio acquisition of office buildings for long-term lets, Spain

Mishu led the bid to acquire two portfolios in Spain to let to high quality tenants on a long-lease basis, working with investors, lenders, hedge funds and investment bank to identify the best way to unlock value in the transactions that was identified between the price to acquire and the true value based on the quality of credit of the tenant.